Dhaka stocks declined for the third trading session on Sunday, the first trading session of the week, with significant fall in turnover as investors were inactive amid fresh political tension.
The benchmark general index of the Dhaka Stock Exchange, DSEX, declined by 2.07 per cent, or 78.10 points, to finish at 3,683.98 points.The DSEX declined by 219.41 points in the last three trading sessions.
The turnover of the bourse declined to Tk 165.58 crore on the day from the previous trading session’s Tk 313.02 crore.
In last week, the turnover of the DSE reached to Tk 538.57 crore following a government’s decision to refinance the merchant banks and brokerage houses Tk 1,266 crore for implementing the stock market compensation scheme.
The DSEX had hit 3,902.39 points in last week as it advanced by 434.21 points in May.
Market operators said investors became fearful due to fresh political instability across the country.
They also said that large-scale investors decided to observe the market before taking the next investment decision.
The fall in turnover is a matter of more concern rather than the fall in share prices as the fall in turnover showed that investors’ participation in the market declined, they said.
The old key index of the bourse, DGEN, finished at 3,895.01 points, shedding 1.99 per cent or 79.13 points on the day.
The DGEN declined by 201.75 points in the last three trading sessions after it had increased by 478.28 points.
DS30, the blue-chip index of the bourse, declined by 2.08 per cent, or 28.94 points, to finish at 1,358.58 points.
The DS30 declined by 61.77 points in the last three trading sessions after it had gained 137.76 points in this month.
‘As political scene once again heated up, pessimism returned in the bourse, marking the opening session of the week as negative. Anxious over fresh outbreak of uncertainties, investors abstained from fresh investments,’ IDLC Investments said in its daily market investments.
Of the 272 issues traded on the day, 29 advanced, 228 declined, and 15 remained unchanged.
United Airways led the day’s turnover chat as with its shares worth Tk 9.29 crore changing hands.
CVO Petrochemical Refinery gained the most on the day as its share price increased by 7.94 per cent, while CMC Kamal lost the most, shedding 20.24 per cent.
-With New Age input
